Laserfiche WebLink
1 <br />2' <br />3 <br />4 <br />5 <br />6 <br />7i <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />29 <br />30 <br />31 <br />32 <br />ORDINANCE NO. 1498 <br />AN ORDINANCE OF THE CITY OF COLTON, STATE OF <br />CALIFORNIA, ESTABLISHING THE LIABILITY RISK <br />RETENTION FUND <br />THE CITY COUNCIL OF THE CITY OF COLTON DOES ORDAIN AS FOLLOWS: <br />SECTION 1: CREATING LIABILITY RISK RETENTION FUND: <br />A Liability Risk Retention Fund is hereby created to establish <br />and hold cash reserves for the purpose of satisfying judgment of claims as <br />determined by the self-insured administrator. <br />SECTION 2: DEPOSITS IN FUND: Cash reserves shall <br />frequently and periodically be reviewed and adjusted, and the City shall cause <br />to be kept and maintained in said fund adequate reserves on all open cases and <br />as determined by the self-insured administrator. <br />SECTION 3: EXPENDITURES FROM FUND: All moneys in said <br />fund shall be expended or liquidated in accordance with reserves established <br />under the exclusive direction of the City's self-insured administrator. <br />SECTION 4: EFFECTIVE DATE: This ordinance will become <br />effective as provided by law. <br />PASSED, ADOPTED, and APPROVED this 3rd ay of August, 1976. <br />NOW <br />of the Cit f <br />Colton, California <br />ATTEST: <br />City Clerk of the City of <br />Colton, California <br />